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Your money, your choice
Supporting your future financial requirements
You can pay into as many pension schemes as you want; it depends on how much money you can set aside. There are several different types of private pension to choose from, but in light of recent government changes the tax aspects can require careful planning. So what do you need to consider?
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Generous grandparents
The bank that likes to say ‘yes’
Forget the Lamborghini – 2.4 million UK grandparents[1] have either raided their pension to support their grandchildren or plan to in the future. According to research from LV=, a quarter of generous grandparents (25%) who have already given away money to their grandchildren[2] have taken the funds from their pension. A further one in six (16%) plan to use their pension for this reason once they reach retirement age.
Portfolio building requires different characteristics to evaluate
There are many ways to invest and different types of investments. But when looking to build an appropriate diversified portfolio, investors have a number of different characteristics to evaluate. For example, is the investment designed to provide growth or income? Is it domestic or international? Does it have a maturity? Another consideration is whether the investment is actively or passively managed.
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Art of bond investing
Portfolio balancing, negating stock market volatility and lowering risk
Bonds have historically been an alternative way to balance a portfolio and negate stock market volatility, and they are treated as lower risk. The art of investing is all about mixing assets to build a portfolio aligned to your investment outlook and attitude to risk, with shares and bonds as primary components. For investors, bonds can provide a stream of returns.
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Pension freedoms
Running out of money remains the biggest retirement fear for over-55s
On 6 April 2015, the Government introduced ‘pension freedoms’, and with it major changes to people’s private pension provision. Once you reach the age of 55 years, you now have much more freedom to access your pension savings or pension pot and to decide what to do with this money
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Cultivating the art of patience
Sticking with a long-term commitment to your investments
If you want to give your investments the best chance of earning a return, then it’s a good idea to cultivate the art of patience. The best returns tend to come from sticking with a long-term commitment to your investments.
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Money’s too tight to mention
Financial impact on annual retirement income after divorce
First comes marriage, then for some couples comes divorce. But a stable marriage is one of the best paths to building and maintaining wealth. Divorce, on the other hand, is expensive. Possessions, money, financial assets and debt acquired during (and sometimes before) marriage are divided between former spouses. Putting a price tag on a divorce is tricky.
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Making the most of your pensions
Have you accumulated multiple plans that need reviewing?
By the time we have been working for a decade or two, it is not uncommon to have accumulated multiple pension plans. There’s no wrong time to start thinking about pension consolidation, but you might find yourself thinking about it if you’re starting a new job or nearing retirement.
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